Marico Limited's Board of Directors, at its meeting held on May 5, 2026, approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The Board also recommended a final equity dividend of Rs. 4.00 per equity share of Re. 1 each for FY25-26, subject to shareholder approval at the ensuing 38th Annual General Meeting. The statutory auditors, B S R & Co. LLP, issued their audit reports with an unmodified opinion on both standalone and consolidated financial results. Notably, Q4 FY26 volume growth came in at 9%, ahead of analyst estimates of 7%, reflecting robust domestic demand momentum. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the audio recording of the earnings conference call held on May 5, 2026 is available on the Company's website, with the transcript to be published subsequently.

Business Outlook

Marico's Co MD has declared a firm commitment to achieving top performance by FY27, reinforcing the company's near-term growth priorities across geographies. The company aims for mid-teen growth in its International business by FY27, fuelled by strong market performance across its overseas operations. On the domestic front, India is anticipated to sustain continued high single-digit volume growth in FY27, underpinned by the strength of its core portfolio and recent brand acquisitions.

Key Board Decisions

Alongside the financial results, the Board approved several significant resolutions at its meeting, which commenced at 12:30 p.m. and concluded at 1:45 p.m. on May 5, 2026.

Q4 FY26 Operational Highlights

Marico's Q4 FY26 performance reflected steady top-line growth against the prior year period, with revenue and profitability broadly in line with analyst estimates. The following table presents key Q4 FY26 metrics alongside year-on-year comparisons and market estimates:

While revenue and net profit came in largely in line with estimates, EBITDA margin contracted by 120 basis points year-on-year to 15.6%, compared to 16.8% in Q4 FY25, and came in marginally below the analyst estimate of 15.8%. Volume growth, however, outperformed expectations at 9% versus the estimated 7%.

Consolidated Financial Performance

Marico's consolidated financials reflect strong year-on-year growth across key metrics for the year ended March 31, 2026. Revenue from operations grew to Rs. 13,611 crore from Rs. 10,831 crore in the prior year. Net profit for the year stood at Rs. 1,813 crore compared to Rs. 1,658 crore previously. The following table summarises the consolidated income statement highlights:

Net profit attributable to owners for FY26 stood at Rs. 1,762 crore versus Rs. 1,629 crore in FY25, while the share attributable to non-controlling interests was Rs. 51 crore compared to Rs. 29 crore in the prior year.

Consolidated Segment Performance

Marico operates across two reportable segments — India and International. The India segment remained the dominant revenue contributor, while the International segment also delivered meaningful growth.

Segment assets for India stood at Rs. 4,832 crore and International at Rs. 2,548 crore as at March 31, 2026, with unallocated assets of Rs. 2,695 crore. Segment liabilities for India were Rs. 1,774 crore and International Rs. 888 crore, with unallocated liabilities of Rs. 2,919 crore.

Standalone Financial Performance

On a standalone basis, Marico reported revenue from operations of Rs. 9,402 crore for FY26 versus Rs. 7,680 crore in FY25. Net profit for the standalone entity rose to Rs. 1,941 crore from Rs. 1,519 crore in the prior year. The standalone results for FY25 have been restated to account for the integration of Apcos Naturals Private Limited (Just Herbs) as a common control business acquisition.

Consolidated Balance Sheet Highlights

Marico's consolidated total assets grew to Rs. 10,075 crore as at March 31, 2026, from Rs. 8,332 crore as at March 31, 2025. Total equity stood at Rs. 4,494 crore versus Rs. 4,266 crore in the prior year. Cash and cash equivalents at the end of FY26 were Rs. 404 crore, up from Rs. 321 crore at the end of FY25.

On a standalone basis, total assets stood at Rs. 7,619 crore as at March 31, 2026, compared to Rs. 5,976 crore in the prior year. Total equity attributable to owners was Rs. 5,808 crore versus Rs. 4,677 crore previously, with standalone cash and cash equivalents rising to Rs. 112 crore from Rs. 41 crore.

Consolidated Cash Flow Summary

On a consolidated basis, Marico generated net cash from operating activities of Rs. 2,084 crore for FY26, compared to Rs. 1,363 crore in FY25. Net cash utilised in investing activities stood at Rs. 722 crore, while net cash utilised in financing activities was Rs. 1,279 crore. The net increase in cash and cash equivalents for FY26 was Rs. 83 crore, with closing cash and cash equivalents at Rs. 404 crore.

On a standalone basis, net cash from operating activities was Rs. 1,609 crore for FY26 versus Rs. 1,103 crore in FY25. Net cash utilised in investing activities was Rs. 534 crore and in financing activities Rs. 1,004 crore, resulting in a net increase in standalone cash and cash equivalents of Rs. 71 crore, with closing balance at Rs. 112 crore.

Key Corporate Developments

Several strategic transactions were completed during FY26 that have shaped the Group's current structure. During the quarter ended June 30, 2025, Marico acquired an additional 8.8% equity stake in Satiya Nutraceuticals Private Limited (Plix) on a fully diluted basis, taking its total stake to 60%. HW Wellness Solutions Private Limited (True Elements) was made a wholly owned subsidiary effective October 17, 2025, following the acquisition of the balance 46.02% equity capital. The business undertaking of Apcos Naturals Private Limited (Just Herbs) was vested in the Company on a going concern basis effective October 1, 2025, pursuant to voluntary liquidation. During the quarter ended March 31, 2026, the Company acquired a 93.27% equity stake in Zea Maize Private Limited (4700BC) effective January 29, 2026, subsequently increasing its stake to 94.02%. Additionally, a 60% equity stake in Cosmix Wellness Private Limited (Cosmix) was acquired effective February 5, 2026.

Company Background and Market Position

During FY25-26, Marico recorded a turnover of ₹136.1 billion (USD 1.5 billion) through its products sold in India and chosen markets in Asia and Africa. The company's domestic portfolio includes brands such as Parachute, Saffola, Hair & Care, Parachute Advansed, Nihar Naturals, Mediker, Pure Sense, Coco Soul, Revive, Set Wet, Livon, Beardo, Just Herbs, True Elements, Plix, Cosmix and 4700BC, touching the lives of 1 out of every 3 Indians. The overseas consumer products portfolio contributes approximately 24% of the Group's revenue, with international brands including Parachute, Parachute Advansed, HairCode, Fiancée, Herbsindia, Purité de Provence, Ôliv, LASHE Superfood, Candid, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-Men, Thuan Phat and Isoplus.

The Board of Directors of Marico Limited, at its meeting held on May 5, 2026, approved the appointment of Mr. Girish Paranjpe (DIN: 02172725) as an Additional Director in the capacity of Independent Director. The appointment, made on the recommendation of the Nomination and Remuneration Committee, is for a term of 5 (five) consecutive years with effect from June 1, 2026 to May 31, 2031, and remains subject to approval by the shareholders of the Company.

Appointment Details

The key parameters of the appointment are outlined below:

Marico has confirmed that Mr. Paranjpe is not related to any of the Directors of the Company. It has further been affirmed that he is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority.

Profile of Mr. Girish Paranjpe

Mr. Girish Paranjpe brings over 35 years of experience in the corporate and business world. He was associated with Wipro Limited, one of the leading software companies of India, for over two decades, during which he contributed to the rise of India's IT industry. As Joint-CEO of Wipro's IT Business and a member of its Board of Directors from 2008 to 2011, Mr. Paranjpe led a business worth USD 5.8 billion with an employee strength of over one lakh, spread across 54 countries.

Following his tenure at Wipro, Mr. Paranjpe joined Bloom Energy in 2011 as the Managing Director of Bloom International. He is also the co-promoter and a General Partner of Exfinity Venture Partners, a venture fund that invests in technology start-ups.

Current Board Positions

Mr. Paranjpe currently holds the following board-level positions:

• Non-Executive Independent Chairman of Mphasis Limited
• Independent Director of Axis Bank Limited
• Independent Director of Crisil Limited
• Independent Director of Axis Max Life Insurance Limited
• Director of certain other Indian and foreign companies

Mr. Paranjpe is a Commerce graduate and a member of the Institute of Chartered Accountants of India and the Institute of Cost Accountants of India. The process, timelines, and other requisite details of the postal ballot for shareholder approval of his appointment will be communicated by the Company in due course.